What To Ask For When Applying For Mortgage

Buying real estate is one of the biggest purchases you make in your lifetime. And if you are planning to take a mortgage loan you must know how the mortgage process goes and what to ask for. No matter where you are in the process, consider asking your financial advisor some of the questions below.

Questions to ask your financial advisor:

What are the different types of mortgages you offer?

For someone in my scenario, what are the best options?

What is the maximum loan value I can take according to my income?

How can I increase my mortgage pre-approval?

How does my mortgage pre-approval impact my purchase price?

What if the appraised value is less than the sales price?

What are the finance fees and charges?

What are the fees for early or partial settlement payments?

Can I make a payment exceeding the monthly mortgage amount?

There’s no such thing as a silly question when it comes to your finances. The most important thing is that you feel fully informed and confident in the mortgage that you get.

 

Have questions? Connect with a financial advisor today!

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